Sesame Bankhall suffers 'disappointing' £19m loss

The network and support services company has set up a provision following a review of past business, including pension transfers. The group was also fined more than £6m last year for failures in relation to Keydata advice. Owners Friends Life said a strategic review of SBG is "ongoing". The SBG loss did not prevent Friends Life from turning a £32m loss in 2012 into an operating profit of £40m last year. But it called the SBG result "disappointing". Earlier this year, the Sesame network confirmed it is planning to drop its independence mandate for investment and pension advice an...